Excellent Choice: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Excellent Choice
Largest movements
- Cash +€263,161
up €263,161 (+359%), from €73,216 to €336,376
mainly Current investments (+€164,059) and Net result for the year (+€68,390)
- Current investments -€164,059
no longer reported in 2025 (was €164,059)
- Receivables within one year -€9,877
down €9,877 (-42.4%), from €23,301 to €13,423
of which Other amounts receivable: -€10,805
- Tangible fixed assets -€7,120
down €7,120 (-39.0%), from €18,238 to €11,118
- Reserves +€68,390
up €68,390 (+32.3%), from €211,942 to €280,332
- Tax, wage and social debts +€8,969
up €8,969 (+661%), from €1,357 to €10,326
- Gross operating margin -€8,601
down €8,601 (-7.9%), from €109,494 to €100,894
- Financial income +€2,046
up €2,046 (+129%), from €1,580 to €3,627
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,974 | €362,121 | +€80,147 | +28.4% |
| Fixed assets | 21/28 | €18,263 | €11,143 | -€7,120 | -39.0% |
| Tangible fixed assets | 22/27 | €18,238 | €11,118 | -€7,120 | -39.0% |
| Furniture and vehicles | 24 | €18,238 | €11,118 | -€7,120 | -39.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €263,712 | €350,978 | +€87,266 | +33.1% |
| Amounts receivable within one year | 40/41 | €23,301 | €13,423 | -€9,877 | -42.4% |
| Trade receivables | 40 | €12,496 | €13,423 | +€927 | +7.4% |
| Other amounts receivable | 41 | €10,805 | - | -€10,805 | |
| Current investments | 50/53 | €164,059 | - | -€164,059 | |
| Cash at bank and in hand | 54/58 | €73,216 | €336,376 | +€263,161 | +359% |
| Deferred charges and accrued income | 490/1 | €3,136 | €1,178 | -€1,958 | -62.4% |
| Total equity and liabilities | 10/49 | €281,974 | €362,121 | +€80,147 | +28.4% |
| Equity | 10/15 | €277,193 | €345,583 | +€68,390 | +24.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €211,942 | €280,332 | +€68,390 | +32.3% |
| Distributable reserves | 133 | €211,942 | €280,332 | +€68,390 | +32.3% |
| Profit (loss) carried forward | 14 | €46,651 | €46,651 | = | 0.0% |
| Amounts payable | 17/49 | €4,781 | €16,538 | +€11,757 | +246% |
| Amounts payable within one year | 42/48 | €4,781 | €16,538 | +€11,757 | +246% |
| Trade debts | 44 | €724 | - | -€724 | |
| Suppliers | 440/4 | €724 | - | -€724 | |
| Taxes, remuneration and social security | 45 | €1,357 | €10,326 | +€8,969 | +661% |
| Taxes | 450/3 | €1,357 | €10,326 | +€8,969 | +661% |
| Other amounts payable | 47/48 | €2,701 | €6,213 | +€3,511 | +130% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,120 | €7,120 | = | 0.0% |
| Other operating charges | 640/8 | €457 | €471 | +€15 | +3.2% |
| Gross operating margin | 9900 | €109,494 | €100,894 | -€8,601 | -7.9% |
| Operating profit (loss) | 9901 | €101,918 | €93,303 | -€8,615 | -8.5% |
| Financial income | 75/76B | €1,580 | €3,627 | +€2,046 | +129% |
| Recurring financial income | 75 | €1,580 | €3,627 | +€2,046 | +129% |
| Financial charges | 65/66B | €548 | €300 | -€248 | -45.3% |
| Recurring financial charges | 65 | €548 | €300 | -€248 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | €102,951 | €96,630 | -€6,321 | -6.1% |
| Income taxes | 67/77 | €29,247 | €28,240 | -€1,007 | -3.4% |
| Profit (loss) for the period | 9904 | €73,704 | €68,390 | -€5,314 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €73,704 | €68,390 | -€5,314 | -7.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.